SEC Info - Delaware Group Income Funds - ‘NSAR-A’ for 1/31/08

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Delaware Group Income Funds – ‘NSAR-A’ for 1/31/08

On: Tuesday, 3/25/08, at 4:46pm ET · Effective: 3/25/08 · For: 1/31/08 · Accession #: 27825-8-1 · File #: 811-02071

  As Of               Filer                 Filing    For·On·As Docs:Size

 3/25/08  Delaware Group Income Funds       NSAR-A      1/31/08    2:26K
          → Delaware Corporate Bond Fund ⇒ Class A (DGCAX) — Class B (DGCBX) — Class C (DGCCX) — Class R (DGCRX) — Institutional Class (DGCIX)
          → Delaware Delchester Fund ⇒ Class A (DETWX) — Class B (DHYBX) — Class C (DELCX) — Class R — Institutional Class (DETIX)
          → Delaware Extended Duration Bond Fund ⇒ Class A (DEEAX) — Class B (DEEBX) — Class C (DEECX) — Class R (DEERX) — Institutional Class (DEEIX)
          → Delaware High-Yield Opportunities Fund ⇒ Class A (DHOAX) — Class B (DHOBX) — Class C (DHOCX) — Class R (DHIRX) — Institutional Class (DHOIX)

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      Delaware Group Income Funds                           24     97K 
 2: EX-99.77Q1 OTHR EXHB  Other Disclosure                             2±    10K

‘NSAR-A’ — Delaware Group Income Funds

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Semi-Annual Report by an Open-End Investment Company

Report
Registrant: Delaware Group Income Funds — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended: 1/31/08

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 27825
SEC File #: 811-02071

Telephone #: 215-255-2127
2. Address: 2005 Market Street
Philadelphia, PA 19103
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 4
The number of separate Funds/Series (portfolios) reported here: 4...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 4: Delaware Corporate Bond Fund — S#3921 ⇒ DGCAX & 4 more
↓ Series 1: Delaware Delchester Fund — S#3922 ⇒ DETWX & 3 more
↓ Series 5: Delaware Extended Duration Bond Fund — S#3923 ⇒ DEEAX & 4 more
↓ Series 3: Delaware High-Yield Opportunites Fund [ now
Delaware High-Yield Opportunities Fund ] — S#3924 ⇒ DHOAX & 4 more
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 85

The Identification Code of the family for Form N-SAR Filings: DELAWAREIN
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77M: Merger Info? Yes

EX-99.77Q1: Other Disclosure? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 4 Funds/Series Reported Here

Information Common to All Funds/Series
All: Investment Adviser
8.1 Name: Delaware Management Co./A Series of DMBT
Role: Adviser
SEC File #: 801-03850
Location: Philadelphia, PA
All: Principal Underwriter
11.1 Name: Delaware Distributors, L.P.
SEC File #: 008-29755
Location: Philadelphia, PA
All: Shareholder Servicing/Transfer Agent
12.1 Name: Delaware Service Co., Inc.
SEC File #: 084-01640
Location: Philadelphia, PA
All: Independent Public Accountant
13.1 Name: Ernst & Young LLP
Location: Philadelphia, PA
All: Affiliated Broker/Dealer
14.1 Name: Delaware Distributors, L.P.
SEC File #: 008-29755
14.2 Name: The Lincoln National Life Insurance Co.
SEC File #: 008-13034
14.3 Name: Lincoln Financial Advisors Corp.
SEC File #: 008-14685
14.4 Name: Lincoln Financial Distributor, Inc.
SEC File #: 008-13431
14.5 Name: Jefferson Pilot Securities Corp.
SEC File #: 008-14609
14.6 Name: Windward Securities Corp.
SEC File #: 008-66037
14.7 Name: Jefferson Pilot Variable Corp.
SEC File #: 008-15753
All: Custodian
15.1 Name: Mellon Bank N.A.
Role: Custodian
Location: Everett, MA

Type of custody: Section 17(f)(1) — Bank
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Brokerage Commissions Paid on Portfolio Transactions
20. The brokers who received the largest amount of gross brokerage
commissions during the period:
20.1 Broker: Bear Stearns & Co.
IRS #: 13-3299429
Commissions paid ($000s): 35
20.2 Broker: Keefe, Bruyette & Woods Inc.
IRS #: 13-1964616
Commissions paid ($000s): 5
20.3 Broker: Jefferies & Co.
IRS #: 95-2622900
Commissions paid ($000s): 3
20.4 Broker: Piper Jaffray & Co.
IRS #: 41-0953246
Commissions paid ($000s): 3
20.5 Broker: Knight Securities
IRS #: 22-3660471
Commissions paid ($000s): 2
20.6 Broker: Bankamerica Securities L.L.C.
IRS #: 56-2058405
Commissions paid ($000s): 2
20.7 Broker: MF Global Inc.
IRS #: 16-1633029
Commissions paid ($000s): 1
20.8 Broker: Lehman Brothers Inc.
IRS #: 13-2518466
Commissions paid ($000s): 1
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 52
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: JP Morgan Securities Inc.
IRS #: 13-3379014
Registrant’s purchases ($000s): 668,944
Registrant’s sales ($000s): 248,865
22.2 Entity: Lehman Brothers Inc.
IRS #: 13-2518466
Registrant’s purchases ($000s): 461,997
Registrant’s sales ($000s): 376,293
22.3 Entity: Goldman Sachs & Co.
IRS #: 13-5108880
Registrant’s purchases ($000s): 442,287
Registrant’s sales ($000s): 259,231
22.4 Entity: Bankamerica Securities L.L.C.
IRS #: 56-2058405
Registrant’s purchases ($000s): 488,280
Registrant’s sales ($000s): 151,135
22.5 Entity: Citigroup Global Markets, Inc.
IRS #: 11-2418191
Registrant’s purchases ($000s): 417,558
Registrant’s sales ($000s): 177,845
22.6 Entity: Merrill Lynch, Pierce, Fenner & Smith Inc.
IRS #: 13-5674085
Registrant’s purchases ($000s): 417,307
Registrant’s sales ($000s): 82,006
22.7 Entity: Morgan Stanley & Co.
IRS #: 13-2655998
Registrant’s purchases ($000s): 183,058
Registrant’s sales ($000s): 137,438
22.8 Entity: Credit Suisse First Boston Corp.
IRS #: 13-5659485
Registrant’s purchases ($000s): 196,030
Registrant’s sales ($000s): 88,769
22.9 Entity: Barclays Investments, Inc.
IRS #: 06-1031656
Registrant’s purchases ($000s): 109,373
Registrant’s sales ($000s): 135,049
22.10 Entity: Greenwich Partners LLC
IRS #: 06-1561932
Registrant’s purchases ($000s): 105,270
Registrant’s sales ($000s): 134,102
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 3,938,736
Aggregate sales ($000s): 2,266,398
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... No
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... No
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... No
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... No
To the Registrant .................................................. No
Other .................................................................. No
All: Advisory Fee
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... No
Accounting services .................................................... No
Services of independent auditors ....................................... Yes
Services of outside counsel ............................................ Yes
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
Series 1 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Delaware Delchester Fund — S#3922 ⇒ DETWX & 3 more

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 5,427
Reinvestment of dividends and distributions ................ 1,108
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 11,857
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 36,900
Reinvestment of dividends and distributions ................ 1,108
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,684
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,583
Reinvestment of dividends and distributions ................ 1,188
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,609
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 893
Reinvestment of dividends and distributions ................ 1,238
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 43,140
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,167
Reinvestment of dividends and distributions ................ 1,278
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 8,779
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 892
Reinvestment of dividends and distributions ................ 981
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 19,494

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 55,862
Reinvestment of dividends and distributions ................ 6,901
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 94,563

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 1,042
S 1: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 42

The maximum sales load rate in effect at period end as a percentage of
the offering price: 4.5%
The minimum sales load rate in effect at period end as a percentage of
the offering price: 0.0%
31. Net amount retained by the Registrant’s/Series’ Principal Underwriter or
by any underwriter or dealer which is an affiliated person of the
Principal Underwriter thereof from front-end sales loads collected from
sales of the Registrant’s/Series’ shares during the period ($000s): 6

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 36
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 0
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 25
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? Yes
S 1: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 476
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 1: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 500,000
Annual rate: 0.65%
Of next $000s: 500,000
Annual rate: 0.6%
Of next $000s: 1,500,000
Annual rate: 0.55%
& Above $000s: 2,500,000
Annual rate: 0.5%
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
S 1: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? Yes
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 1: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $250
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 3.1
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 77.0
All other ................................... 11.8

Non-Debt
Investments other than debt securities ...... 1.2%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 6.6
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes No
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? No –
Margin purchases? No –
Short selling? No –
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 168,563
Sales ($000s): 209,659

Monthly average Value of portfolio ($000s): 245,623

Percent turnover (lesser of Purchases or Sales, divided by Value): 137%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 10,301
Net dividend income .............................................. 632
Account maintenance fees ......................................... –
Net other income ................................................. 140

Expenses ($000s)
Advisory fees .................................................... 871
Administrator fees ............................................... 54
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 288
Custodian fees ................................................... 2
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 8
Registration fees ................................................ 33
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 11
Legal fees ....................................................... 20
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 476
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 11
Total expenses ................................................... 1,774

Expense reimbursements ($000s): 129

Net investment income ($000s): 9,428

Realized capital gains ($000s): 5,795
Realized capital losses ($000s): 17,272

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 1,450

Total income dividends for which the record date passed during the
period ($000s): 9,948
Dividends for a second class of shares ($000s): 869

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 2,189
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 6,990
Long-term debt securities, including convertible debt ............ 198,664
Preferred, conv. preferred and adjustable-rate preferred stock ... 1,089
Common stock ..................................................... 1,532
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 11
Receivables from portfolio instruments sold ...................... 11,676
Receivables from affiliated persons .............................. –
Other receivables ................................................ 4,123
All other assets ................................................. 9,830
Total assets ..................................................... 236,104

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 1,857
Amounts owed to affiliated persons ............................... 286
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 10,334

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 223,627

Number of shares outstanding (000s): 67,017
Number of shares outstanding of a second class of shares (000s): 4,936

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 13,459

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 265,905
Series 3 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Delaware High-Yield Opportunites Fund [ now
Delaware High-Yield Opportunities Fund ] — S#3924 ⇒ DHOAX & 4 more

Is this the final Form N-SAR filed for this Fund/Series? No
S 3: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 3: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,697
Reinvestment of dividends and distributions ................ 770
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 16,167
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,759
Reinvestment of dividends and distributions ................ 794
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,179
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,535
Reinvestment of dividends and distributions ................ 763
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,325
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,744
Reinvestment of dividends and distributions ................ 870
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,625
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 5,128
Reinvestment of dividends and distributions ................ 815
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,499
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,289
Reinvestment of dividends and distributions ................ 729
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 11,485

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 36,152
Reinvestment of dividends and distributions ................ 4,741
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 51,280

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 1,706
S 3: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 70

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 62
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 0
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 29
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? Yes
S 3: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 327
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 3: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 500,000
Annual rate: 0.65%
Of next $000s: 500,000
Annual rate: 0.6%
Of next $000s: 1,500,000
Annual rate: 0.55%
& Above $000s: 2,500,000
Annual rate: 0.5%
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
S 3: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? Yes
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 3: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 8.4
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 74.6
All other ................................... 10.8

Non-Debt
Investments other than debt securities ...... 0.8%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 6.2
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 3: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes No
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? No –
Margin purchases? No –
Short selling? No –
S 3: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 100,952
Sales ($000s): 124,646

Monthly average Value of portfolio ($000s): 156,907

Percent turnover (lesser of Purchases or Sales, divided by Value): 128%
S 3: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 6,878
Net dividend income .............................................. 176
Account maintenance fees ......................................... –
Net other income ................................................. 131

Expenses ($000s)
Advisory fees .................................................... 566
Administrator fees ............................................... 35
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 199
Custodian fees ................................................... 1
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 5
Registration fees ................................................ 23
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 10
Legal fees ....................................................... 7
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 368
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 7
Total expenses ................................................... 1,221

Expense reimbursements ($000s): 133

Net investment income ($000s): 6,097

Realized capital gains ($000s): 3,005
Realized capital losses ($000s): 11,182

Net unrealized appreciation during the period ($000s): 206
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 5,103
Dividends for a second class of shares ($000s): 1,544

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 3: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 3,798
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 13,348
Long-term debt securities, including convertible debt ............ 135,752
Preferred, conv. preferred and adjustable-rate preferred stock ... 597
Common stock ..................................................... 625
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 5
Receivables from portfolio instruments sold ...................... 6,654
Receivables from affiliated persons .............................. –
Other receivables ................................................ 2,986
All other assets ................................................. 8,757
Total assets ..................................................... 172,522

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 3,657
Amounts owed to affiliated persons ............................... 203
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 9,718

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 158,944

Number of shares outstanding (000s): 30,022
Number of shares outstanding of a second class of shares (000s): 9,164

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 8,597

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 172,963
Series 4 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Delaware Corporate Bond Fund — S#3921 ⇒ DGCAX & 4 more

Is this the final Form N-SAR filed for this Fund/Series? No
S 4: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Bankamerica Securities L.L.C.
IRS #: 56-2058405
Type of security owned: Debt
Value of securities owned at period end ($000s): 3,241
25.2 Name: Bearn Stearns
IRS #: 13-3299429
Type of security owned: Debt
Value of securities owned at period end ($000s): 3,501
25.3 Name: Lehman Brothers Inc.
IRS #: 13-2518466
Type of security owned: Debt
Value of securities owned at period end ($000s): 4,531
25.4 Name: (See a prior Form N-SAR for who was...) Deleted
25.5 Name: (See a prior Form N-SAR for who was...) Deleted
S 4: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 30,115
Reinvestment of dividends and distributions ................ 1,555
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 14,423
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 23,541
Reinvestment of dividends and distributions ................ 1,628
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,510
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 21,001
Reinvestment of dividends and distributions ................ 1,648
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 46,742
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 15,020
Reinvestment of dividends and distributions ................ 1,679
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 14,300
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 13,461
Reinvestment of dividends and distributions ................ 1,575
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 12,451
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 18,756
Reinvestment of dividends and distributions ................ 1,521
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 21,951

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 121,894
Reinvestment of dividends and distributions ................ 9,606
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 120,377

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 1,570
S 4: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 63

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 55
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 0
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 22
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? Yes
S 4: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 889
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 4: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 500,000
Annual rate: 0.5%
Of next $000s: 500,000
Annual rate: 0.475%
Of next $000s: 1,500,000
Annual rate: 0.45%
& Above $000s: 2,500,000
Annual rate: 0.425%
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
S 4: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? Yes
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 4: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 1.9
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 6.1%
U.S. Government Agency ...................... 1.3
State and Municipal – tax-free .............. 1.3
Corporate ................................... 72.2
All other ................................... 14.7

Non-Debt
Investments other than debt securities ...... 0.1%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 11.6
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? Yes
65. In computations of Net Asset Value (NAV) per share, is any part of the
value attributed to instruments identified in Item 64.B (second
question) derived from insurance or guarantees? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 4: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes to both
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? No –
Margin purchases? No –
Short selling? No –
S 4: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 1,199,575
Sales ($000s): 1,189,854

Monthly average Value of portfolio ($000s): 589,083

Percent turnover (lesser of Purchases or Sales, divided by Value): 402%
S 4: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 15,430
Net dividend income .............................................. 84
Account maintenance fees ......................................... –
Net other income ................................................. 142

Expenses ($000s)
Advisory fees .................................................... 1,523
Administrator fees ............................................... 123
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 578
Custodian fees ................................................... 3
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 17
Registration fees ................................................ 33
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 22
Legal fees ....................................................... 34
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 974
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 21
Total expenses ................................................... 3,328

Expense reimbursements ($000s): 434

Net investment income ($000s): 12,762

Realized capital gains ($000s): 30,824
Realized capital losses ($000s): 27,159

Net unrealized appreciation during the period ($000s): 2,400
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 10,360
Dividends for a second class of shares ($000s): 6,052

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 4: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 4,438
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 11,769
Long-term debt securities, including convertible debt ............ 577,835
Preferred, conv. preferred and adjustable-rate preferred stock ... 748
Common stock ..................................................... 8
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... 37,377
Receivables from affiliated persons .............................. –
Other receivables ................................................ 9,597
All other assets ................................................. 37,789
Total assets ..................................................... 679,561

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 32,247
Amounts owed to affiliated persons ............................... 547
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 42,155

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 604,612

Number of shares outstanding (000s): 69,133
Number of shares outstanding of a second class of shares (000s): 40,017

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 24,598

Total value of assets in segregated accounts ($000s): 993
75. Monthly average net assets during the period ($000s): 609,998
Series 5 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Delaware Extended Duration Bond Fund — S#3923 ⇒ DEEAX & 4 more

Is this the final Form N-SAR filed for this Fund/Series? No
S 5: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Bankamerica Securities L.L.C.
IRS #: 56-2058405
Type of security owned: Debt
Value of securities owned at period end ($000s): 970
25.2 Name: Bear Sterrns & Co.
IRS #: 13-3299429
Type of security owned: Debt
Value of securities owned at period end ($000s): 2,005
25.3 Name: (See a prior Form N-SAR for who was...) Deleted
25.4 Name: (See a prior Form N-SAR for who was...) Deleted
S 5: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 11,029
Reinvestment of dividends and distributions ................ 977
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 14,172
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,301
Reinvestment of dividends and distributions ................ 1,024
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 7,872
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,238
Reinvestment of dividends and distributions ................ 1,033
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 16,966
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,936
Reinvestment of dividends and distributions ................ 1,079
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,751
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 5,158
Reinvestment of dividends and distributions ................ 1,024
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,116
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,709
Reinvestment of dividends and distributions ................ 898
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 26,525

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 48,371
Reinvestment of dividends and distributions ................ 6,035
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 77,402

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 1,737
S 5: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 70

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 60
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 0
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 11
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? Yes
S 5: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 365
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 5: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 500,000
Annual rate: 0.55%
Of next $000s: 500,000
Annual rate: 0.5%
Of next $000s: 1,500,000
Annual rate: 0.45%
& Above $000s: 2,500,000
Annual rate: 0.425%
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
S 5: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? Yes
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 5: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 1.6
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 8.1%
U.S. Government Agency ...................... 3.5
State and Municipal – tax-free .............. 1.6
Corporate ................................... 71.2
All other ................................... 11.3

Non-Debt
Investments other than debt securities ...... 0.1%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 19.5
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 5: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes to both
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? No –
Margin purchases? No –
Short selling? No –
S 5: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 598,588
Sales ($000s): 615,720

Monthly average Value of portfolio ($000s): 260,630

Percent turnover (lesser of Purchases or Sales, divided by Value): 457%
S 5: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 7,048
Net dividend income .............................................. 18
Account maintenance fees ......................................... –
Net other income ................................................. 80

Expenses ($000s)
Advisory fees .................................................... 751
Administrator fees ............................................... 55
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 353
Custodian fees ................................................... 9
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 8
Registration fees ................................................ 33
Taxes ............................................................ 1
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 12
Legal fees ....................................................... 10
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 412
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 9
Total expenses ................................................... 1,653

Expense reimbursements ($000s): 396

Net investment income ($000s): 5,889

Realized capital gains ($000s): 24,454
Realized capital losses ($000s): 18,258

Net unrealized appreciation during the period ($000s): 431
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 5,759
Dividends for a second class of shares ($000s): 1,764

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 5: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 1,874
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 4,002
Long-term debt securities, including convertible debt ............ 243,684
Preferred, conv. preferred and adjustable-rate preferred stock ... 349
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... 14,131
Receivables from affiliated persons .............................. –
Other receivables ................................................ 4,980
All other assets ................................................. 23,342
Total assets ..................................................... 292,362

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 12,794
Amounts owed to affiliated persons ............................... 228
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 24,588

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 254,752

Number of shares outstanding (000s): 37,623
Number of shares outstanding of a second class of shares (000s): 8,256

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 17,934

Total value of assets in segregated accounts ($000s): 1,797
75. Monthly average net assets during the period ($000s): 270,865
Signature ↑Top of Form N-SAR
/s/ Kenneth E. Crockett, Sr.
Name: Kenneth E. Crockett, Sr.
Title: Bluesky Admin

↑Top

Filing Submission 0000027825-08-000001 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Delaware Group Income Funds – ‘NSAR-A’ for 1/31/08

On: Tuesday, 3/25/08, at 4:46pm ET · Effective: 3/25/08 · For: 1/31/08 · Accession #: 27825-8-1 · File #: 811-02071

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Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-A’ — Delaware Group Income Funds

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents